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Facebook plunge puts Amazon investors on guard

Updated : July 27, 2018 06:28 AM IST

Facebook on Wednesday warned about a margin hit as revenue growth slows and user privacy costs climb, and its 20 percent share drop heightened focus on the online retailer, already a closely watched stock.
Amazon was the second-biggest decliner in the so-called FAANG group of high-flying tech companies, but Facebook's second-quarter earnings also cast a pall on shares of Apple Inc, Netflix Inc and Google parent Alphabet Inc.
Amazon shares fell nearly 3 percent to $1,811.66, while shares of Netflix, Alphabet and Apple were flat.
Facebook plunge puts Amazon investors on guard
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